Increasing Construction and Mining Projects to Push Global Rock Breaker Market to $ 2 Billion by 2023
Growing construction
and mining sectors coupled with technological developments and expanding
distributor & dealership network to fuel global rock breaker market through
2023
According
to TechSci Research report, “Global
Rock Breaker Market By Product Type, By Application, By Operating Weight,
By Region, Competition Forecast & Opportunities, 2013 – 2023”, the global rock breaker market is projected
to reach nearly $ 2 billion by the end of 2023, owing to increasing number of mining
and construction projects across the globe. Construction industry is one of the
major demand generators for rock breakers, which are typically used to remove
oversize rocks that are too large or too hard to be reduced in size by a
crusher. Due to intensifying use of rock breakers in the construction industry,
this industry has emerged as the major end user for rock breakers across the
globe, and the trend is anticipated to continue during the forecast period as
well. Major construction projects such as Al Maktoum Airport in Dubai, South-to-North
Water Transfer Project in China, London Crossrail Project in the UK, Three
Gorges Dam in China, Beijing Airport in China, and Great Man-Made River Project
in Libya are expected to boost demand for rock breakers across the globe during
the forecast period.
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According to a consumer survey conducted by TechSci Research, more than three-fourths
of the respondents are unwilling to change their rock breaker brand. Sandvik and
Atlas Copco account for the highest satisfaction level in terms of product
quality, availability and service, globally, as per the survey. Consequently,
both of these companies dominated the global rock breaker market in 2017 and are
expected to maintain their market dominance during the forecast period as well,
owing to their strong sales network and collaborations
with construction and mining companies. Medium rock breaker segment accounts
for the largest market share, owing to its use in both small and large
construction and mining projects. Asia-Pacific is the largest demand generating
region for rock breakers, globally, backed by a huge number of large-scale
construction and mining projects in the region.
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“Various upcoming greenfield and brownfield infrastructure
projects coupled with rising government expenditure towards industrial and
construction sectors are expected to play a vital role in aiding the global rock
breaker market over the next five years. Moreover, favorable government
policies regarding construction projects, technological developments, and
increasing number of real estate and housing projects are anticipated to fuel
the rock breaker market, globally, during the forecast period.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global
Rock Breaker Market By Product Type, By Application, By Operating Weight, By
Region, Competition Forecast & Opportunities, 2013 – 2023” has analyzed the potential of rock breaker market across the
globe, and provides statistics and information on market size, shares and
trends. The report will suffice in providing the intending clients with
cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by the industry.
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